Word: lazard
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...York a spokesman for Wall Street's Lehman Bros, and Lazard Freres claimed that together they can control 3,000,000 of Loew's 5,142,615 shares and throw out the board at the next annual meeting on Feb. 28. If it takes over Loew's, the Lehman-Lazard group would probably keep Vogel in charge of Loew's Theaters division, which he headed until last month, and hire a president who would drastically cut MGM's staff, replace Movie Production Boss Dore Schary, sell off some money-losing Loew's theaters...
...Best Studio, Worst Production." Lehman and Lazard Freres own 150,000 shares of Loew's stock outright, reckon they can count on the stock support of several hundred thousand shares held by their customers and friends, 144,000 shares held by Affiliated Fund Investment Trust, 262,000 held by Manhattan Brokers Thomson & McKinnon for an unidentified Canadian group, some 150,000 shares claimed to be represented by Manhattan Attorney Ben Javits (brother of New York's Attorney-General Jacob Javits), more than 200,000 shares held by customers and associates of Manhattan Broker Arthur Wiesenberger, about...
...Lehman-Lazard interests charge that the M-G-M movies made during the tenure of MGM's Production Boss Dore Schary, which dates from 1948, have lost an estimated $25 million. (Schary claims that he went in the red only two years.) The dissidents note that MGM's successful box-office movies, such as The Blackboard Jungle and Trial, have been outnumbered by the flops-The Prodigal, Jupiter's Darling, The Swan, Somebody Up There Likes...
...they must find a competent man to replace Vogel. They have already offered the presidency to Leonard Goldenson, president of American Broadcasting-Paramount Theatres, Abe Schneider, vice president of Columbia Pictures, and Lew Wasserman, president of Music Corp. of America. All three turned it down. Said the Lehman-Lazard spokesman: "At February's annual meeting, the two investment companies will be able to walk in and take control without a fight-provided they find the right man to direct the company. If they do not find the man, it is anybody's guess what will happen to Loew...
FIRST PRIVATE LOAN for European Coal and Steel Community from U.S. bankers is coming. Six-nation group set up in 1952 to provide single production and selling group for coal and steel has asked three big U.S. investment houses (Kuhn, Loeb; First Boston; Lazard Frères) to help plan multimillion loan to modernize coal mines, coking plants, etc. Previously, Community borrowed $100 million from U.S. Export-Import Bank...